Chairperson Gale convened a meeting of the Nebraska Real Estate
Commission at 9:07 a.m. on January 29, 2003, in the Staybridge Room of the
Staybridge Suites, located at 2701 Fletcher Avenue in Lincoln, Nebraska. All of
the members of the Real Estate Commission were present. Also present were
Director Les Tyrrell, Deputy Director for Education Teresa Hoffman, Deputy
Director for Enforcement Terry Mayrose, and Administrative Assistant Heidi
Burklund. John Clark, Trust Account Examiner, was present for the discussion of
the Trust Account Program. Ron Pierson, Trust Account Examiner, was present for
the hearing. Abbie Widger, Special Assistant Attorney General and Counsel to the
Commission, was present for the stipulation and consent orders and the hearing.

Notice of Meeting (Adopt Agenda)

Director Tyrrell presented a Public Notice and Proofs of
Publication thereof relating to this meeting, all of which are attached to and
made a part of these minutes. Chairperson Gale reported that all Commissioners
had been notified of the meeting simultaneously, in writing, and that a proposed
Tentative Agenda accompanied the notification.

Chairperson Gale pointed out to those in attendance that a
Public Copy of the materials being used during the meeting was available to the
public on the counsel table in the meeting room, and that the procedures
followed were in accordance with the Open Meetings Law. Chairperson Gale asked
that guests sign the guest list.

Director Tyrrell noted that information presented under Agenda
Item 16 had been updated since the Tentative Agenda was mailed to the
Commissioners.

After review of the Final Agenda, a motion was made by Wiebusch
and seconded by Moline to adopt the Final Agenda as presented. Motion carried
with Johnson, Moline, Poskochil, Shepard, Strand, Wiebusch, and Gale voting aye.

Minutes of December 11, 2002

The minutes of the Commission meeting held on December 11, 2002,
were considered.

Commissioner Poskochil noted that a correction was needed on
page 3, that his name should be substituted for Commissioner Nigro

=s
name regarding the vote on the License Recognition Agreement with Washington.

After review, a motion was made by Moline and seconded by
Poskochil to approve the minutes as corrected. Motion carried with Johnson,
Moline, Poskochil, Shepard, Strand, Wiebusch, and Gale voting aye.

Receipts and Expenditures Report for December

Director Tyrrell presented the Receipts and Expenditures Report
for December. A copy of said report is attached to and made a part of these
minutes.

Director Tyrrell noted that there was nothing unusual to report
in Receipts. Expenditures Category 4132, OASDI Expense, was $200.00 over because
of incorrect information used when developing the budget spread; in Category
4212, Communication Expense, the December bill will be the on January report,
because it was not billed in time; Category 4219, Awards Expense, was for
length-of-service awards for two employees under the state

=s
employee recognition program; Category 4271, Repair and Maintenance of Office
Equipment, was for the typewriter maintenance contract; Category 4414, Education
Services, included a two-month payment for October and November; and Category
4491, Other Operating Expense, included a three-month payment for September,
October, and November, because no billing was previously received from Records
Management for those months.

The Cash Fund Balance as of December 31, 2002, was $891,916.77,
which compared to a Cash Fund Balance of $750,358.50 on December 31, 2001.

Commissioner Poskochil asked why there was more activity than
usual in Category 7532, Examination Fees. Director Tyrrell said there were more
people taking the examination. Some of those were because the waiting period had
been eliminated, but most of them were because of an increase in applications.

Commissioner Poskochil asked why there was an increase in health
insurance expenses. Director Tyrrell said that staff had changed, and their
insurance coverage elections affected the amount paid. Due to contract
negotiation, the Commission will have a slight decrease in cost this year.

Commissioner Poskochil asked if the increase in year-to-date
expense in Category 4215, Publication and Printing, when compared to last year,
was due to printing the revised Seller Property Condition Disclosure Statement
and the agency disclosure brochures. Director Tyrrell said yes, and it also
reflected printing the License Law Manual for applicants, and updates to the
License Law Manual and Trust Account Manual.

Commissioner Poskochil asked why Category 4711, Board and
Lodging, had approximately half the expense from a year ago. Director Tyrrell
said it depended on how many people traveled to ARELLO meetings, and where those
meetings were held.

After discussion, a motion was made by Moline and seconded by
Wiebusch to file the December Receipts and Expenditures Report for audit. Motion
carried with Johnson, Moline, Poskochil, Shepard, Strand, Wiebusch, and Gale
voting aye.

Renewal Report

Director Tyrrell presented a Renewal Report, which showed
renewals as of January 28, 2003. A copy of said report is attached to and made a
part of these minutes.

Director Tyrrell noted that the percentage of renewed licenses
was up slightly.

Deputy Director Hoffman presented for ratification the
Non-Resident Licenses and Resident Licenses Issued to Persons Holding Licenses
in Other Jurisdictions Report, a copy of which is attached to and made a part of
these minutes.

Deputy Director Hoffman noted one correction to the exhibit,
where one person

=s
jurisdiction of licensure was omitted. The exhibit will be corrected.

After review, a motion was made by
Moline and seconded by Johnson to ratify issuance of the licenses as set forth
in the report. Motion carried with Johnson, Moline, Poskochil, Shepard, Strand,
Wiebusch, and Gale voting aye.

Deputy Director Hoffman indicated that, in her report to the
Commission at the December meeting, she had inadvertently misrepresented the
License Recognition Agreement with Washington. She clarified that Washington=s
continuing education requirement is thirty hours, and ours is twelve hours.
Instead of only having to complete the resident state=s
requirement, the Agreement states that continuing education activities approved
in the resident state can be used toward the non-resident state=s
continuing education requirement.

The Commissioners understood, and no further action was
necessary.

December Examination Report

Deputy Director Hoffman presented for ratification the December
Examination Report, a copy of which is attached to and made a part of these
minutes.

After review, a motion was made by Moline and seconded by
Wiebusch to ratify the December Examination Report for the purpose of issuing
licenses. Motion carried with Johnson, Moline, Poskochil, Shepard, Strand,
Wiebusch, and Gale voting aye.

Real Estate Education Matters

Pre-License Education Instructor Approval

Deputy Director Hoffman presented for ratification the
Pre-License Education Instructor Approval Report, a copy of which is attached to
and made a part of these minutes.

Continuing Education Activity Approval

Deputy Director Hoffman presented for ratification the
Continuing Education Activity Approval Report, a copy of which is attached to
and made a part of these minutes.

Continuing Education Instructor Approval

Deputy Director Hoffman presented for ratification the
Continuing Education Instructor Approval Report, a copy of which is attached to
and made a part of these minutes.

After discussion, a motion was made by Wiebusch and seconded by
Moline to ratify the reports. Motion carried with Johnson, Moline, Poskochil,
Shepard, Strand, Wiebusch, and Gale voting aye.

Pending Sworn Complaints and Investigative Matters

Director Tyrrell presented a summary report of the pending
complaints, which included a list of licensees presently under disciplinary
action or on appeal. A copy of said report is attached to and made a part of
these minutes.

No action was necessary on this report.

The following sworn complaints and investigative matters were
presented to the Commission:

Deputy Director Mayrose presented the alleged violations and
investigative report to the Commission and, when necessary, answered questions
on this matter.

After being advised of the results of the investigation and
discussion, a motion was made by Poskochil and seconded by Wiebusch that the
complaint be dismissed without prejudice. Motion carried with Johnson, Moline,
Poskochil, Shepard, Wiebusch, and Gale voting aye, and with Strand not
participating or voting, being temporarily absent and excused.

Deputy Director Mayrose presented the alleged violations and
investigative report to the Commission and, when necessary, answered questions
on this matter.

After being advised of the results of the investigation and
discussion, a motion was made by Poskochil and seconded by Moline that the
complaint be dismissed without prejudice. Motion carried with Johnson, Moline,
Poskochil, Shepard, Wiebusch, and Gale voting aye, and with Strand not
participating or voting, being temporarily absent and excused.

Deputy Director Mayrose presented the alleged violations and
investigative report to the Commission and, when necessary, answered questions
on this matter.

After being advised of the results of the investigation and
discussion, a motion was made by Moline and seconded by Shepard that the
complaint be dismissed without prejudice, that Director Tyrrell send a letter
of admonishment regarding timely completion of dual agency forms, and that
another article be placed in the Commission Comment regarding dual agency.
Motion carried with Johnson, Moline, Poskochil, Shepard, Wiebusch, and Gale
voting aye, and with Strand not participating or voting, being temporarily
absent and excused.

Prior to discussion of this matter, Commissioners Johnson and
Shepard recused themselves, thereby nullifying any potential conflict of
interest. Deputy Director Mayrose presented the alleged violations and
investigative report to the Commission and, when necessary, answered questions
on this matter.

After being advised of the results of the investigation and
discussion, a motion was made by Moline and seconded by Poskochil that the
complaint be dismissed without prejudice. Motion carried with Moline,
Poskochil, Wiebusch, and Gale voting aye, with Johnson and Shepard not
participating or voting, having recused themselves, thereby nullifying any
potential conflict of interest, and with Strand not participating or voting,
being temporarily absent and excused.

Item E Complaint #2002-048 - Ron Hasley vs. Gary A.
Barnard

Deputy Director Mayrose presented the alleged violations and
investigative report to the Commission and, when necessary, answered questions
on this matter.

After being advised of the results of the investigation and
discussion, a motion was made by Poskochil and seconded by Moline that the
complaint be dismissed without prejudice. Motion carried with Johnson, Moline,
Poskochil, Shepard, Wiebusch, and Gale voting aye, and with Strand not
participating or voting, being temporarily absent and excused.

Item F Investigative Matter

Counsel Widger presented the alleged violations and
investigative report to the Commission and, when necessary, answered questions
on this matter.

After being advised of the results of the investigation and
discussion, a motion was made by Moline and seconded by Poskochil that the
Commission file a complaint on its own motion, on the potential violations
contained in the report and the potential violation of 81-885.24(24). Motion
carried with Johnson, Moline, Poskochil, Shepard, Wiebusch, and Gale voting
aye, and with Strand not participating or voting, being temporarily absent and
excused.

Presentation of Stipulation and Consent Orders

Complaint #2002-033, Earl and LeeAnn Stueve vs. Carolyn Van
Horne

Deputy Director Mayrose presented a stipulation and consent
order in the matter of Complaint #2002-033, Earl and LeeAnn Stueve vs. Carolyn
Van Horne. A copy of said order is attached to and made a part of these minutes.
Ms. Van Horne was not present.

Deputy Director Mayrose reviewed the circumstances involved and
noted the provisions of the order, which had been signed by Ms. Van Horne. The
order specified a censure of Ms. Van Horne=s
broker=s
license and six additional hours of continuing education, with three hours in
license law and three hours in disclosure.

After discussion, a motion was made by Moline and seconded by
Poskochil to enter into the order as presented. Motion carried with Johnson,
Moline, Poskochil, Shepard, Strand, Wiebusch, and Gale voting aye.

Complaint #2002-015, Janelle A. Zeleny vs. Steven Lee Scherich

Counsel Widger presented a stipulation and consent order in the
matter of Complaint #2002-015, Janelle A. Zeleny vs. Steven Lee Scherich. A copy
of said order is attached to and made a part of these minutes. Mr. Scherich was
present with his attorney, Douglas Ruge.

Counsel Widger reviewed the circumstances involved and noted the
provisions of the order, which had been signed by Mr. Scherich. The order
specified a censure of Mr. Scherich=s
salesperson=s
license and six additional hours of continuing education, with three hours in
agency and three hours in ethics.

After discussion, a motion was made by Wiebusch and seconded by
Moline to enter into the order as presented. Motion carried with Johnson,
Moline, Poskochil, Shepard, Strand, Wiebusch, and Gale voting aye.

A hearing was held on January 29, at 9:45 a.m., in the matter of
the Petition for Review of Rejected Broker

=s
Renewal Application. Abbie Widger, Special Assistant Attorney General and
Counsel to the Commission, appeared for the Commission. Petitioner H. Michael
Cutler was not present, but was represented by Counsel Theodore R. Boecker.

After opening statements, Counsel Widger presented a brief and
26 exhibits, all of which were offered and received by Chairperson Gale. Counsel
Widger called three witnesses: Kristine Jones from US Bank, Director Tyrrell,
and Deputy Director Mayrose.

At 12:00 p.m., Chairperson Gale declared a brief recess, and
reconvened the meeting and hearing at 12:13 p.m.

At 1:21 p.m., Chairperson Gale declared a brief recess, and
reconvened the meeting at 1:32 p.m. to address Item 10b.

At 1:39 p.m., Chairperson Gale reconvened the hearing.

Counsel Boecker presented 8 exhibits, which were offered and
received by Chairperson Gale. Counsel Boecker did not call any witnesses.

After closing arguments had been presented, Chairperson Gale
declared the hearing concluded.

At 2:13 p.m., Chairperson Gale declared a brief recess, and
reconvened the meeting and hearing at 2:25 p.m.

Commissioner Strand was excused at 2:25 p.m. for the remainder
of the meeting.

A motion was made by Johnson and seconded by Wiebusch that Mr.
Cutler

=s
petition be denied, and the decision of the Director be upheld.

Chairperson Gale said that, for Mr. Cutler to have been a real
estate professional for so long, it was hard to accept that he was unaware of
the rules and did not know he had to notify the Commission of his address.
Chairperson Gale said that, as an attorney, if his license was up for renewal
every year, he would become pretty familiar with those requirements, as well as
the license display and trust account requirements. Cumulatively, it was hard to
believe he was unaware of the rules of the Commission. The rules were clear that
trust accounts must be in a Nebraska bank, and Council Bluffs is not in
Nebraska. The affidavit said there was a non-interest-bearing account in Norwest
Bank, but there was no evidence that it existed, or that the other account was
just for Iowa activity. Chairperson Gale said he could sympathize with the
turmoil in Mr. Cutler

=s
life, but once he lived in Florida, regardless of the definition of Aforthwith,@
it should have been clear he should notify the Commission that he was located
there, not in Omaha.

Commissioner Poskochil commended both attorneys on the quality
of the evidence presented. He agreed with Chairperson Gale that an intelligent
man in business would be aware of his licensing date, and in any business
practice, a person would leave a forwarding address. It was hard to follow that
Mr. Cutler could not be contacted for his real estate business. There was a lot
more to the situation than renewing late, and Mr. Cutler should have addressed
the situation sooner. There was no evidence of a trust account in Nebraska, and
the Council Bluffs statements showed that the account was interest-bearing. Mr.
Cutler was responsible for changing that, per the examination deficiency report.
Incompetency was getting to be a factor. Commissioner Poskochil sympathized with
Mr. Cutler

=s
turmoil, but not with his lax business practices.

Chairperson Gale asked if there was a difference on the amount
of interest, would that have any bearing on Commissioner Poskochil

=s
opinion. Commissioner Poskochil noted that Mr. Cutler knew where the account was
located, got statements that stated it bore interest, and had the deficiency
report which told him that he needed to correct it or be in violation of his
licensing entity. There was no evidence of another account. Commissioner
Poskochil said we all have to live by the rules.

Commissioner Moline said his decision was not based on whether
the trust account was interest-bearing in Iowa. He was voting for the motion,
because Mr. Cutler had a lot of opportunities to get things done. He was held
responsible for his employee not making the account interest-free, and he did
not follow up as he should have.

Commissioner Shepard said he totally agreed. Mr. Cutler received
the proper notices, yet said the Commission should have gone even farther. The
situation was not the Commission

=s
fault. Mr. Cutler knew the rules and regulations, and did not follow them. It
was very simple.

Commissioner Johnson noted that Mr. Cutler had time to get his
appeal in, and did not do it timely. The Commission allowed him latitude on
that, and got to this hearing, to find out other rules were not followed either.

Commissioner Poskochil said the Commission could have tried to
use the last known phone number, but that would have provided no evidence. The
Commission

=s
notification practice was U. S. Certified Mail, and the Commission could not
have relied on a phone call for official proof of notification.

Commissioner Wiebusch noted that notifying the Commission of the
current address was the responsibility of the licensee. Mr. Cutler knew the
rules, and should have followed them.

Commissioner Moline called the question.

Chairperson Gale said there were more comments he would like to
make. Counsel Boecker had done an admirable job, but this was a profession, and
the Commission expected high standards of conduct, responsibility, and
integrity. Mr. Cutler provided excuse after excuse after excuse why someone else
did not take care of him, including his own employees, the bank employees,
Commission staff who did not call him, and the doorman who accepted documents on
his behalf. Chairperson Gale noted that a stranger would not accept certified
mail with no authority to do so, but Mr. Cutler said he was not responsible for
receipt. Mr. Cutler exhibited totally unprofessional behavior, was unwilling to
accept the consequences of his actions, and showed a pattern of behavior of
ignoring the rules and regulations of the Commission. Mr. Cutler had been a
licensee for years and knew the rules, and knew he had to notify the Commission
of his move to Florida.

Motion carried with Johnson, Moline, Poskochil, Shepard,
Wiebusch, and Gale voting aye, and with Strand not participating or voting,
being temporarily absent and excused.

Chairperson Gale notified the petitioner that the costs incurred
for the court reporter and any witness fees would be billed to the petitioner,
as provided for in 305 NAC Chapter 4, and that the petitioner would have thirty
days from the date of the order to reimburse the Commission for said costs.

Chairperson Gale announced that all exhibits related to this
hearing would be retained in the Commission office.

There were no Informal Special Appearances scheduled for this
meeting.

Approve Travel to 2003 Regularly-Attended ARELLO Meetings

Deputy Director Hoffman presented an exhibit regarding the costs
of sending Commissioners and staff to regularly-attended ARELLO meetings in
2003. A copy of said exhibit is attached to and made a part of these minutes.

After discussion, a motion was made by Moline and seconded by
Wiebusch to approve the expenditures as presented for applicable Commissioners
and staff to attend the meetings. Motion carried with Johnson, Moline, Poskochil,
Shepard, Wiebusch, and Gale voting aye, and with Strand not participating or
voting, being temporarily absent and excused.

Initial Report - Review of Trust Account Examination Program and
Annual Review of All Trust Accounts

Deputy Director Mayrose presented an exhibit which contained
recommendations for the Trust Account Examination Program. A copy of said
exhibit is attached to and made a part of these minutes.

Deputy Director Mayrose reviewed the trust account examination
process, and what documents were reviewed during the examination. Trust account
examiner John Clark noted that the recommendations were intended to shorten the
examination cycle, so that each trust account was examined each year, and to
emphasize broker education.

Discussion ensued regarding the level of supervision provided,
and the value of the deficiency reports and percentages regarding paperwork
currently provided to the broker vs. the more frequent review of the money
handled. Director Tyrrell said that, over the years, the Commission had added
the paperwork reviews by requiring brochures, notifications, and closing
statements. Under the proposal, the examiners would continue the current level
of review on a smaller number of files.

Chairperson Gale said that the threat of a complete audit
created compliance. The current trend was toward more review, rather than less.
If the broker did not review each file, standards would slip. Chairperson Gale
was afraid the Commission would lose a lot to gain a little time.

Commissioner Moline disagreed. The examination would produce a
report card, which was reviewed with the broker in the exit interview.
Percentages did not matter. The sample size would be smaller, but the basic
examination would still be the same.

Commissioner Poskochil asked if the Commission should maybe hire
another examiner, rather than limit examinations. Commissioner Moline said there
were lots of places where 100% of the files were reviewed, and that a broker
could not afford to have an audit done at that level if he hired someone to do
it. Director Tyrrell noted that all the money handled was reviewed, whether or
not a sample was used instead of all the files. If there was ever a problem with
a broker, the Commission would get an investigative report, and decide whether
to file a complaint.

Commissioner Poskochil said that licensees in his firm did not
get paid until all the documents were in the file. Brokers were doing a great
job to get compliance.

Commissioner Shepard said the Commission could try the new
process, and change back if it did not work. Director Tyrrell noted that the
Commission reviewed the program every year.

Mr. Clark noted that a list of files would be given to the
broker, with the problems noted, rather than the report card with percentages of
compliance. Discussion ensued regarding what would be given to the broker under
the new system. Blatant problems would always be given to the broker.

Director Tyrrell asked for clarification that a trust account
examination done tomorrow would be done exactly the same way as yesterday,
except the sample size would be smaller. Mr. Clark said no, only exceptions
would be documented, i.e. the things that were wrong. It would essentially be an
exception report. It was the consensus of the Commission that would work.

Commissioner Moline noted that, if there were lots of problems,
the examiner could still pull more files and do follow-up examinations. As now,
the Commission would rely on the experience of the examiners to do the right
thing.

Director Tyrrell noted that, if the money bypassed the trust
account, examiners would make sure it was bypassed in a legal manner, with all
authorizations and notifications delivered. The rest of the file would be
reviewed for compliance also, and the broker would get an exception report.

Commissioner Moline asked that the Commission be given a report
on the program after six months. Director Tyrrell said they would probably get a
report in September which would reflect February through August experiences.

After discussion, a motion was made by Moline and seconded by
Johnson to make the recommended changes as presented, and provide the Commission
with an experience report in approximately six months. Motion carried with
Johnson, Moline, Poskochil, Shepard, Wiebusch, and Gale voting aye, and with
Strand not participating or voting, being temporarily absent and excused.

Rescind Clarification of

ADwelling@
as Used in Seller Property Condition Disclosure Act, as adopted April 17, 1997

Director Tyrrell presented an exhibit which consisted of the
current Commission clarification of

Adwelling@
as used in the Seller Property Condition Disclosure Act. A copy of said exhibit
is attached to and made a part of these minutes.

Director Tyrrell noted that the clarification had been made
obsolete by the recent revisions to the Seller Property Condition Disclosure
statutes, and should be rescinded.

After discussion, a motion was made by Moline and seconded by
Wiebusch to rescind the clarification of

Adwelling@
adopted April 17, 1997. Motion carried with Johnson, Moline, Poskochil, Shepard,
Wiebusch, and Gale voting aye, and with Strand not participating or voting,
being temporarily absent and excused.

Legislative Matters

Director Tyrrell reported that LB 60, which would require
criminal history record checks, and LB 61, which would revise the Retirement
Communities and Subdivisions statutes, were introduced in the Legislature by
Senator Byars and assigned to the Banking, Commerce, and Insurance Committee.
Hearings will be held February 3.

LB 117 would implement a mail processing center for all state
agencies, and would require agencies to show a reduction in FTE as a result. It
was the consensus of the Commission to have Director Tyrrell testify, at the
hearing or in writing, regarding the Commission

=s
concerns.

Director Tyrrell also reviewed other bills of interest to the
Commission.

No further action was necessary on this report.

Information Matters

ARELLO Special Meeting - January 10-12, 2003 - Report of
Attendees

Deputy Director Hoffman said it was a rejuvenating meeting. The
leaders of 11 out of 14 working groups planned strategies, and several
committees met. The Information Services Council had discovered that the
administrator of the ARELLO licensee database had told participants to only send
disciplinary history data once a month. This was of concern because current data
is always preferred. As a result of this discussion, data is now accepted daily,
which is how often Nebraska provides it now. In addition to the working groups,
a task force has been formed to develop procedures to authorize travel
expenditures. As ARELLO seeks to expand its membership, travel expenses are
increasing, necessitating this study.

Director Tyrrell said it was a good set of meetings. The
Commission

=s
web site now links to the ARELLO database, and provides instructions on using
the information obtained there. Director Tyrrell said that it currently appeared
that the National Association of Realtors7
database download included all members, not just licensees. Commissioner Johnson
said it included retirees also. Commissioner Moline noted that it gave multiple
hits for the same name. Deputy Director Hoffman said the database needed a
unique identifier, which may be the biggest stumbling block. Deputy Director
Hoffman said that one forum in Tahoe will be on licensee and disciplinary action
databases, and other member benefit programs. Another forum will be AIs
the bar high enough,@
which will feature licensing criteria, education requirements, examination, and
background checks. There will also be a demonstration of simulation licensing
examinations.

No action was necessary on this report.

Future Meeting Dates

March 5-6, 2003 - Staybridge Suites, Lincoln

April 16-17, 2003 - Staybridge Suites, Lincoln

May 28-29, 2003 - Staybridge Suites, Lincoln

Recesses and Adjournment

At 9:30 a.m. on December 11, Chairperson Gale declared a brief
recess, and reconvened the meeting at 9:45 a.m.

At 12:00 p.m. on December 11, Chairperson Gale declared a brief
recess, and reconvened the meeting and hearing at 12:13 p.m.

At 1:21 p.m. on December 11, Chairperson Gale declared a brief
recess, and reconvened the meeting at 1:32 p.m. to address Item 10b.

At 1:39 p.m. on December 11, Chairperson Gale reconvened the
hearing.

At 2:13 p.m. on December 11, Chairperson Gale declared a brief
recess, and reconvened the meeting and hearing at 2:25 p.m.

Commissioner Strand was excused at 2:25 p.m. for the remainder
of the meeting.

At 2:44 p.m. on December 11, Chairperson Gale declared a brief
recess, and reconvened the meeting at 2:50 p.m.

Commissioner Johnson was briefly excused from the meeting at
4:17 p.m., and rejoined the meeting at 4:19 p.m.

Commissioner Moline was briefly excused from the meeting at 4:22
p.m., and rejoined the meeting at 4:23 p.m.

At 4:55 p.m. on January 29, there being no further business to
come before the Commission, a motion was made by Moline and seconded by Shepard
that the meeting adjourn. Motion carried with Johnson, Moline, Poskochil,
Shepard, Wiebusch, and Gale voting aye, and with Strand not participating or
voting, being temporarily absent and excused.

I, Les Tyrrell, Director of the Nebraska Real Estate Commission,
do hereby certify that the foregoing minutes of the January 29, 2003, meeting of
the Nebraska Real Estate Commission were available for inspection on February
12, 2003, in compliance with Section 84-1413(5) R.R.S. 1943, of Nebraska.